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The New School sells Loeb Hall dorm building for $51.5M

The deal adds Loeb Hall, at 135 E. 12th St., to Hawkins Way Capital and Värde Partners' Found Study portfolio, the investor said.

Reported · Written up by our desk · Residential

The New School has sold Loeb Hall, its first dormitory building at 135 E. 12th St., for $51.5 million, according to property records cited by Bisnow.

The buyer, Los Angeles-based Hawkins Way Capital, teamed up with Värde Partners for the acquisition. Bisnow reports the purchase is the third Manhattan property Hawkins Way has added this year to its Found Study student housing portfolio, which focuses on neighborhoods with concentrations of higher education institutions.

Loeb Hall is a 15-story dorm building that the school broke ground on in 1988, spending $13 million to develop the property, Bisnow reports. The building previously held four dorms owned by the school as of this spring, according to the school’s student newspaper.

Bisnow also notes Hawkins Way has been active in NYC student housing, including buying a 122-unit building at 300 W. 20th St. for $30 million in 2024, and spending $155 million in July 2025 on a shuttered hotel at 99 Washington St. to convert it into dorms under Found Study.

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